Cinven racks up 1.5bn euros for fund

• The limited partners were not identified
• Founded in 1977, Cinven is based in London
• The firm targets the business services, consumer, financial services, healthcare, industrials technology, media, and telecommunications sectors

Cinven has closed its inaugural strategic financials fund at 1.5 billion euros. The fund will invest in financial services. The limited partners were not identified.

So far, the SFF has invested in Miller, a specialist insurance and (re) insurance broker; Compre, a specialist global consolidator of closed books of non-life insurance policies; and International Financial Group Limited, life insurance provider of cross-border, long-term savings products for internationally mobile clients.

Previous financial services investments by the Cinven Funds include Guardian Financial Services, Partnership Assurance and Avolon.

On the fundraising, Stuart McAlpine, managing partner of Cinven, said in a statement: “For more than 30 years, Cinven has focused on building world class companies using its European focus and sector specialist expertise. We are delighted to have raised our inaugural Strategic Financials Fund and would like to thank Cinven’s long term investors for their continued support, and to welcome our new investors who have built conviction in the SFF’s investment strategy, the strength of the SFF team we have built, and Cinven’s unique capabilities in the financial services sector.”

Founded in 1977, Cinven is based in London. The firm seeks to invest in the European and North American companies operating in the business services, consumer, financial services, healthcare, industrials technology, media, and telecommunications sectors.